Aerospace Technology Company, Sagetech Avionics Receives $12M Investment
Fly Safer with Sagetech
WHITE SALMON, Wash., June 29, 2021 /PRNewswire/ -- Sagetech Avionics Inc., an innovative technology company providing industry-leading avionics solutions for Uncrewed Aerial Systems (UAS), announced today that the company received a $12 million investment from Due West Partners, a Seattle-based private investment firm. The investment will enable acceleration of Sagetech's product roadmap, specifically UAS Detect and Avoid (DAA) capability and other related technologies. Terms of the transaction were not disclosed.
"We are excited to partner with Due West Partners" stated Tom Furey, CEO of Sagetech Avionics. "Their experience in scaling aerospace companies and deep network of experts in the Defense and Aerospace ecosystem will provide substantial benefits to Sagetech as we continue our growth in the exciting UAS and Advanced Air Mobility (AAM) markets. Sagetech is honored that Due West recognizes the strength in our market position and the future value of our technology roadmap, and we are looking forward to a lasting and mutually beneficial relationship."
Sagetech Avionics provides the most advanced technology core for type certifiable detect and avoid systems for UAS. With this investment, Sagetech will expand their Engineering and Go-To-Market teams in order to support the growing demand for DAA and other situational awareness solutions worldwide.
"Sagetech combines a unique blend of advanced situational awareness solutions, which are crucial to unlocking the future potential of the UAS and AAM markets, with an unmatched history of providing reliable miniature avionics for use in the US Department of Defense," said Nick Wellmon, Managing Partner of DWP. "Proven technologies and customer credibility plus significant market potential create a very exciting opportunity." "Situational awareness products are required technology for safe integration of crewed and uncrewed vehicles into managed airspace, and Due West Partners is pleased to support a company helping customers overcome these challenges," said Robert Dickinson, Managing Partner of DWP.
About Sagetech Avionics
Sagetech Avionics, Inc. is an aerospace technology company empowering safe flight in unmanned aircraft with situational awareness solutions built from mission-critical transponders, software, and related technologies. Currently serving military and civil duty on most small to medium UAVs, Sagetech solutions are mission-proven and offer decades of program experience, certifications, and millions of flight hours to deliver maximum value over the life of an unmanned platform. Today, Sagetech is expanding its technology platform to create comprehensive, certifiable systems such as detect and avoid solutions. Every day, Sagetech works in concert with its extensive ecosystem of OEM customers, technology partners, and resellers to ensure UAVs fly safer with Sagetech on board. Learn more at www.sagetech.com.
About Due West Partners
Due West is Different. With patient capital aimed at creating sustainable growth and building legacies, Due West Partners offers companies an alternative source of capital to grow their business. Our goal is simple: empower established businesses with the additional resources and expertise they need to focus on long-term value creation.
SOURCE Sagetech Avionics Inc.
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